Daily FX Report Thursday 11th March 2010

By IBT Staff Reporter On 03/11/10 AT 9:12 AM

Overnight data released in China showed better than expected growth in factory output, and consumer inflation rose to a sixteen month high. CPI rose to 2.7% in February. This has raised concerns that the Chinese central bank may increase monetary tightening, and possibly raise interest rates. There is a school of thought that gradual tightening may not be enough to curb the robust growth levels. Eyes will now turn to the USD to see how it reacts.

Market News

The rate of unemployment rose to 5.3% in Australia, missing estimates. Analysts had expected 15,000 jobs to be created, but it came it at 400

Japans revised Q4 GDP showed that their economy expanded by 0.9% as opposed to the reported 1.1%

EU Ministers are scheduled to meet on March 16th to discuss the Greek debt issue